Never imagined I would join the "Sedo sellers club", but I just completed a first "official" sale on Sedo of a two-worded .ORG for high $XXX. The whole transaction was very smooth and professional, and the communication with Sedo was flawless. Once ownership was confirmed, the payment was released and I received the cheque in the mail about 3 days later. Even though the sale was negotiated in GBP, the cheque was in USD although at a favorable exchange rate. My Canadian bank deposited it without imposing a fee or hold.
What I learnt:
(1) For those considering receiving payments via Paypal, I was advised by Sedo that Paypal charges a fee. For me, it was worth waiting 3 days to save the 4% or so, which amounts to a considerable amount.
(2) The losing registrar (GoDaddy) emailed me to confirm the transfer out. I did not have to reply or in fact do anything at all as long as I was in agreement with the transfer out. However, to speed things up (by almost 5-7 days), I logged into my GoDaddy account and from within, directly approved the transfer out. The new owner's information was immediately reflected and Sedo released the funds within hours. I am not sure if other registrars allow owners to instantly release a domain by logging into their account and approving it, but I can imagine both pros and cons for this. The most time consuming step was waiting for the approval request from the gaining registrar.
(3) Be reasonable, and firm, in your negotiation. Expect the sky and you will get just that, but no money in your bank account.
What I learnt:
(1) For those considering receiving payments via Paypal, I was advised by Sedo that Paypal charges a fee. For me, it was worth waiting 3 days to save the 4% or so, which amounts to a considerable amount.
(2) The losing registrar (GoDaddy) emailed me to confirm the transfer out. I did not have to reply or in fact do anything at all as long as I was in agreement with the transfer out. However, to speed things up (by almost 5-7 days), I logged into my GoDaddy account and from within, directly approved the transfer out. The new owner's information was immediately reflected and Sedo released the funds within hours. I am not sure if other registrars allow owners to instantly release a domain by logging into their account and approving it, but I can imagine both pros and cons for this. The most time consuming step was waiting for the approval request from the gaining registrar.
(3) Be reasonable, and firm, in your negotiation. Expect the sky and you will get just that, but no money in your bank account.
